D.C.'s Fairmont hotel sells for $180M

MetLife acquired the Fairmont Hotel for $180 million, the second hotel in D.C.'s West End to sell this fall.

Ivanhoe Cambridge sold the 415-room hotel for about $434,000 a room. Fairmont Hotels & Resorts will continue to manage the property.

The Fairmont was built in 1985 and renovated in 2002.

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The sale comes two months after the Park-Hyatt Washington was acquired for $100 million, or $462,963 per key, by Westmont Hospitality Group and Thomas Tan, a member of the Bestford Hospitality Group. Hyatt, the hotel's previous owner, continues to manage the Park Hyatt.